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of americans for tax reform, talked about the so- called fiscal cliff and the upcoming tax bills in congress. he will also talk about the 2012 election and recent meetings at the white house between congressional leaders and president obama. this is an hour and 20 minutes. >> we are delighted to have grover norquist with us. of course, he is president of americans for tax reform but in the spirit of full disclosure, he is also a member of our board of directors and a very important colleague. grover spoke here several months ago, i should say here at the center, but not in this room because we moved -- there may be some glitches, so i apologize in advance. i am sure we will do better next time. however, grover talked about taxes, u.s. economic policy. but that was about taxes and the electoral campaign. now we had elections and the taxes are at the center of a very important political debate and at the center of negotiations between the obama administration and congress, particularly the republican controlled house. as i watched the president during his recent press conference and listened t
are starting to recover, but many school districts are heavily dependent on property taxes. property values have far from the covered. assessments lag behind what is going on with property values. we can expect some continuing declines in local school funding. at the federal level, we have had about $1.50 billion in cuts to education programs. at the higher level from the federal government, there have been restrictions on eligibility for the pell grant program and restrictions on the student loan program. college students have contributed $4.50 billion out of their pockets toward deficit reduction. we have had things squeezing us at different levels. we are facing the biggest threat from what is called a sequester, the fiscal cliff. one part of the fiscal cliff arc across the board -- across the board -- are across-the-board spending cuts. they will be cutting housing and food safety and the entire range of domestic programs. for education, that will be head start, which is in the department of health and human services. there will be a $4.80 billion cut, the largest education cut in the h
what would happen if we went over the fiscal cliff. the combination of higher taxes and spending cuts are estimated to take 4% out of a relatively weak gdp. even if we do not and some deal is struck, the combination of eliminating the payroll tax reduction, which seems to be something the administration supports, that, together with some base broadening, would probably be at least 2% of gdp. if there is going to be a deal, it would involve spending cuts as well. even if we avoid going over the cliff, it looks like there will be substantial fiscal contractionary impact next year. in that environment, what can the fed do to try to offset that to make sure that it does not take us to the edge of ore over the edge of a recession? >> we will see what deal comes out. but you are correct that even if the most extreme scenarios are avoided, some plausible scenarios still involved relatively contractionary fiscal policies over all. i made that point in my remarks when i said that under most plausible scenarios, no matter what happens, the tightening of federal fiscal policy will outweigh the s
it to be a stage set for tax reform. -- this week, you're going to see a lot of focus on the entitlement portion and the republicans have held their tongues. the whole discussion is about revenue. they are marshalling their ceo's to make demands on entitlements. >> so many of the business leaders don't want to go over the fiscal cliff. they really want tax reform to happen. whatever happens, they want this to be a stage setter. >>>> thank you for being on "newsmakers." [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2012] >> tomorrow on c-span, we look back at august 2011, as the news conferences around the budget control act. this created sequestration. that is split 50-50 between defense and non-defense spending. >> in january, our first week that we were sworn into office, the present as for the increase in the debt ceiling and i made it clear that there would not be an increase in the debt ceiling without changes to the way that we spend the american people's money. shortly after that i was in new york. we agreed that there should be
now, unless congress and the president take action, the current tax rates will would expire and we will experience the largest tax increase in u.s. history. amid so much economic suffering, raising taxes would have a devastating impact on our economy. we cannot let this happen. republicans believe this is an opportunity to finally solve problems thatwill washington has ignored. whether it is the tax code or entitlement programs that are on a path to bankruptcy, no more short-term mandates or excuses. we can do this right. we can pass on our children and economy of growth and opportunity and government that empowers all businesses and stays out of their way. a country in which everyone has a shot at the american dream. republicans are ready and eager to get to work. we hope president obama is as well. america is a country whose people can do anything and whose leaders can envision a limitless future. today, as you join friends and family, be sure to celebrate as abraham lincoln did, with a hopeful heart. america still has so many gracious guesifts for which to e thankful. >> joined
that would really move the needle. we have to realize a corporate tax cut. everyone agrees. we just did a survey including members of the general public, business leaders with the general public. 70% of the general public believes that we need to simplify the corporate tax code. that is how deep the understanding of the problem is. we cannot have a tax code that is simply complex with more complexity than virtually everywhere else in the world. >> four, five, six? >> we have to talk about the distortions in the trade system that hurt a high-service, high technology system. we did not worry about them so much when we were doing well, but now it's really getting in the way. we do not need to dumb down the regulation but just go through the process in a more logical and efficient way. this was the number one thing that the thousands of business people we interviewed and surveyed said that was the biggest barrier to investing in the u.s., the complicated regulatory infrastructure. we have to focus on the part of our infrastructure that are economically important. and the pork-barrel system.
over the fiscal cliff? -- fiscal cliff, they want it to be a stage set for tax reform. >> thank you for being on "newsmakers." [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2012] >> watched mary kay henry, the service employees and national union president today again at 6:00 p.m. on youc-span. >> general, what if the soviets -- soviet union announced tomorrow that if we attack cuba there will be nuclear war? >> that is a serious thing. we're going to be uneasy. something may make these people shoot it off. >> i would want to keep my own people very alert. [laughter] >> it is a fascinating moment. it is amazing that eisenhower tells him to have his people alert, because everyone is completely on edge. kennedy last, and then he says, hang on tight, which is a nice moment that even on this terribly tense day, they're able to joke a little bit with each other. especially during this crisis, i think they have a sense of how lonely it is to occupy that office and how you are given all kinds of advice. eisenhower knew all about
Search Results 0 to 6 of about 7